Instalco – since 2014
Instalco was born in February 2014. During this ten-year period Instalco has established itself as one of the biggest players in the Nordic installation industry.
The progress in ten years:
0 → 14 billions of SEK in revenue
0 → 135 subsidiaries
0 → 6 200 coworkers
0 → 3 countries
An idea is born
Everything began when Per Sjöstrand, the founder of Instalco, former CEO and current President, developed an idea of creating a new kind of company. For several years, with his many years of experience from both the construction and installation industry, Sjöstrand had developed his idea of building a company in a way that was different from what was traditionally prevailing within the installation field.
It would be a company with a decentralized business model, where the subsidiaries get to keep their responsibilities and their brand. They would also be part of the group and benefit from all of the advantages of a big company, as well as get the opportunity to work together with the best in the industry.
Per introduced his idea to the Private Equity-company FSN Capital, who liked it and financed the initial capital.
The formation and the first company acquisitions
Sjöstrand brought his former colleague Lotta Sjögren who was appointed CFO and Robin Boheman as acquisition manager.
Instalco was launched on the 15th of February 2014, along with the formation and acquisitions of the first five companies; Rörgruppen, Orab Entreprenad, PoB:s Elektriska, Klimatrör and VVS Metoder. A journey together had begun with shared values; Innovative, Efficient, Collaboration.
The first joint project
In November of 2014 Instalco got its first collaborative project. VVS Metoder, PoB:s Elektriska and the newly acquired OTK Klimatinstallationer were entrusted to collectively bring all main installations to the construction project Väsby Fyr, located in Upplands Väsby north of Stockholm. The value of the order was about 10 million SEK and the mission was to renovate and rebuild 50 rental apartments for the housing developer Brabo.
Establishment in Norway and Finland
In 2015 the business expanded in Sweden, mainly within electricity, heating, sanitation and ventilation. In 2016 Instalco made the first company acquisitions in Norway and Finland, thereby establishing itself as a Nordic installation concern.
Instalco enters the stock market
Instalco was listed on Nasdaq Stockholm in May of 2017, on the Mid Cap-list.
Focusing on medium sized projects
Instalco's strategy has always been to focus on medium sized projects between 1 and 75 million SEK. That's what we specialize in and where there is a low risk level. However, during this ten-year period we have undertaken quite a few larger assignments. The greatest of which is the one we signed with NCC and Region Sörmland in 2018, regarding installations of electricity, heating and sanitation during the renovation and expansion of three hospitals in Sörmland. At first it was a 700 million project and before it will be completed in 2025, the amount will have doubled. About 15 Instalco companies have been involved.
Development of industry and technical consulting
During 2020 the step was taken to form the business area of Technical Consulting through the new subsidiary Intec. Intec provides a consulting service in installation, real estate, energy, industry, infrastructure and fire protection. Its core of operation is project planning. At the same time, the expansion of the business area of Industry began.
A board with many years of experience
Instalco’s board has basically remained intact during this ten-year period, with few exceptions. Olle Ehrlén was the President for the greater part of the period until he handed over the presidency to Per Sjöstrand. Olle Ehrlén has contributed valuable knowledge to Instalco with his solid experience in the construction industry, including his role as CEO and concern manager of NCC.
Sjöstrand hands it over to Boheman
In September of 2021, Instalco’s founder Per Sjöstrand leaves his role as CEO to become chairman of the board. Robin Boheman takes over as the new CEO.
100 companies
By acquiring the company Kompressorteknik ML AB in Ludvika in October 2021, Instalco passed the milestone of 100 subsidiaries.
Ongoing expansion
Instalco moved up on the Large Cap-list on Nasdaq Stockholm in January 2022 and during the year a stock split was carried out. The technical consulting company Intec established itself in Norway and the first acquisition of a scaffolding company was made.
Ten years that has left an impression on the installation industry
What might be most important during this ten-year period is how Instalco has created something unique within the installation industry with its acquisition driven and decentralized business model. Before Instalco was formed, the usual company constellation in the installation industry consisted of either large, centralized concerns or single, individual installers. With Instalco we have found our own niche between the two and positioned ourselves as a quality acquisition niche company in technical installations.
